Former Massachusetts Sen. Scott Brown will form an exploratory committee that could lead to a Senate run in New Hampshire against Democratic incumbent Jeanne Shaheen, sources told WMUR.

Forming a political action committee allows Brown to raise and spend campaign money that could fund travel around the state, donations to other Republicans to earn him political chits, even fund television ads if he chose.

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This does not mean that Brown is necessarily running for the Senate though. He could use funds raised in this committee to also explore a run for president or just sit on the money for something else down the line.

Still, the move should be viewed seriously. By forming an exploratory committee he is almost certainly giving up his lucrative contract as a pundit on the Fox News Channel, which has an internal policy against giving contracts to candidates.

A number of Republicans are excited about the move. Polling suggests that Brown is the only Republican who would even have a chance at knocking off Shaheen this fall. Nationally, this would change the landscape of the contest for control of the U.S. Senate, where Republicans must flip six seats.

While Brown would give Republicans a chance, him actually defeating Shaheen is another thing. A Suffolk University poll released last week showed Brown trailing Shaheen by 13 points.

Democrats wasted no time attacking Brown.

"Scott Brown is for Scott Brown and the powerful interests that back him, not New Hampshire. So when he gets back from his next trip to Iowa, he'll find himself in a tough Republican primary against Republicans who are actually from New Hampshire. If he survives that, he’ll face an even tougher general election against Jeanne Shaheen, whose common sense leadership makes a difference for New Hampshire and people here know it," said state Democratic Party spokesman Harrell Kirstein.